NCUA has released its agenda for the agency’s upcoming board meeting, which includes a final rule on emergency mergers. The meeting will be held Thursday, Dec. 14, at 10 a.m.
As noted in today’s CUNA News, the rule would:
refine the current definition of the term “in danger of insolvency,” as it pertains to emergency mergers of under-capitalized credit unions and expand the eligibility for emergency mergers;
extend the forecast horizons within which a credit union’s net worth is expected to either become insolvent or drop below a 2 percent net worth ratio; and
provide that credit unions assisted under Section 208 of the Federal Credit Union Act in the 15 months prior may be deemed “in danger of insolvency.”
The board will also consider a final rule on the agency’s restricting plan.
The open portion of the meeting will be streamed on NCUA’s website, and results from the meeting will be reported on in The Point.